Market Strategy by Anil Singhvi December 18: Key levels to follow in Nify50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,175-24,275 levels and a strong support zone at 23,875-24,000 levels in the Nifty50 headline index on Wednesday, December 18. For Nifty Bank, he expects support at 52,375 levels -52,55 and a strong support area 52,100-52,275 levels.

Here’s how the market guru summed up the trade setup this morning:

• Global: Bad

• FII: Bad

• DII: Good

• F&O: Be careful

• Emotion: Be careful

• Trends: Positive

• FIIs are in long positions at 36 percent compared to 39 percent before Tuesday’s session

• Nifty put-call ratio (PCR) at 0.65 vs 0.90

• Nifty Bank PCR at 0.69 vs 0.91

• Volatility index India VIX rose 3.5 percent to 14.49

The market wizard sees a high area for the headline index at 24,450-24,550 levels and a strong selling area at 24,575-24,700 levels.

With the bank index, you see a high area at the levels of 53,150-53,300 and a strong selling area at the levels of 53,400-53,650.

ANIL SINGHVI MARKET STRATEGIES

For existing long positions:

• Intraday Nifty and closing loss at 24,175
• Nifty Bank intraday and closing loss at 52,250

For existing short positions:

• Nifty intraday stop loss at 24,500 and intraday stop loss at 24,625
• Nifty Bank intraday stop loss in 53,050 and closing stop loss in 53,300

For new positions in Nifty50:

• Aggressive traders can sell Nifty in 24,500-24,600 range with strong stop loss at 24,700 with targets of 24,465, 24,400, 24,335, 24,300, 24,275 and 24,175

• Aggressive traders can buy Nifty in the range of 24,000-24,175 with a strong stop loss at 23,875 with targets of 24,275, 24,300, 24,325, 24,400, 24,465 and 24,500

For new positions in Nifty Bank:

• Aggressive traders can sell Nifty Bank in the range of 53,150-53,300 with a strong stop loss at 53,500 in terms of 53,000, 52,850, 52,725, 52,550, 52,450 and 52,275

• Aggressive traders can buy Nifty Bank in the range of 52,275-52,450 with a strong stop loss at 52,100 in terms of 52,700, 52,825, 52,950, 53,025, 53,150 and 53,300

Shares in F&O Ban .

• New ban: Bandhan Bank, PVR, Chambal Fert
• Already banned: Manappuram Fin, SAIL, NALCO, Hind Copper, RBL Bank, Granules
• Without restriction: None

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